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Dubai Financial Market (DFM) received a delegation from the Saudi Exchange “Tadawul”, who have been briefed on DFM’s momentous journey in implementing cutting-edge Clearing, Settlement and Depository (CSD) mechanisms and procedures in line with the international best practices.
The visit underlines DFM’s commitment to share knowledge and experiences with various capital markets’ institutions as well as Tadawul’s interest to be aquatinted on DFM’s success in further developing market infrastructure, achieving the highest level of comprehensiveness in line with the expectations of local and international investors.
It is noteworthy that DFM’s fabulous record of employing CSD mechanisms, implementing numerous initiatives over the past years has eventually led to the upgrade of the UAE to “Emerging Market” status by international companies including “MSCI” and S&P Dow Jones.
Maryam Fikri, Executive Vice President, Chief Operating Officer, Head of Clearing, Settlement and Depository Division, DFM has welcomed the visiting delegation from the Kingdom of Saudi Arabia noting that strengthening links with other financial markets is at the forefront of DFM’s priority in order to share experiences.
“At DFM, we are pleased to share the vast experiences we gained through the years while embracing best mechanisms and procedures with other stock markets. We hope that this visit provides a starting point for stronger ties with the Saudi Market “Tadawul” in the future, considering the historic and exceptional relationship between the UAE and Saudi Arabia”, Maryam Fikri added.
